St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-09
Houses Which Loaded Up a Little On
Tuesday On Strong Spots
Selling Wheat.
This Causes Cutie Drop in Prices
June Wheat Getting Pretty Nearly 4
Covered Up.
Tie Fit Almost Deserted Late in the
SessiOn---A Great Accumulation
of Loaded Cars.
An Attempt to Influence The Stock
Market by Reporting That Emperor
William Was Dead.

Special to the Globe.
CHICAGO. June S.-July wheat this morning
vas a cent lower than the opening yesterday.
There We're about 100 more ears received
than were expected, and the day was of the
hot, depressing sort that helps TO lower
prices. June wheat was offered in settlement
mt 92l2c The impression is growing that
June is getting pretty nearly covered up, so
nearly at any rate, that the clique are likely
nj any moment to allow June to take care of
itself Probably not one of the clique houses
knows TO this, and it is quite possible, in
deed, that the clique principals may not
know themselves. There is Il good deal of
cash wheat arriving, more by far than any
body expected. If the June option is al
lowed to collapse momentarily before the
end of the month, the clique houses
will probably be found buying July at the
height of the decentralization. These sur
misses, which are INDUCED in by the crowd,
are, however, without any safe premises. No
body knows the clique plans not even their
brokers. July sold rs low as S6sSc. The
New York clearances of wheat, 10000 bu,
helped to sustain the market This makes
nearly 100000 bu of wheat out of New
York alone in three days. The July option
hung around S6l2c. June fuctuated be-
tween 92l2@9 3c. The crowd went home last
night bullish on July, and were consequently
he sellers this morning. The clique houses
bought little lots occasionally, but apparently
for scattered lot of customers. For several
days there have been
RUMoRS ON THE FLOOR
of wheat out Of condition. The bears,
whenever there has been wheat taken out of
store here, have claimed it was taken out by
the clique under threat of posting. Other
rumors have been circulated to the effect
that the clique had been ordered to ship
several millions by the elevator man, under
pain of having the wheat posted or else,
'tnrned over at the expense of holders. To
all those reports Henry Wheeler, of Munger,
Wheeler 4 Co., the largest elevator firm here,
said: There is not word of truth in any
of them. The wheat here is in splendid
condition. This ought to stop the lies, the
meanest sort of lies, too, which are directed
not only al the clique, but against the whole
market. There never was a much duller
time ON change than this. The
clique kept selling a little June at
92Ia@ 93c. The report that they had sold so
much yesterday had the effect of relieving
the tension on this option. There is certainly
very little apparent anxiety left on the part
of shorts i'll this market, although the rumor
is there is still 100000 bushels unsettled
for June. A shortage of even this figure
would not pay for taking 100000 bushels
of cash wheat at the present high figures be-
tween this and July 1. July was very dull,
indeed. Small purchases occasionally by
Rosenfeld held the market. The crowd is
not vet anxious TO sell July. The foreign
news was not bearish and the clearances
from Atlantic ports were nearly 100000
bushels for the day.
THE ROUTINE REPORT
(iHTCACO lime S-,IulV wheat OnpOp0
S67sc ard i'll five minutes declined Ice AL
most everybody seemed to have some to SELL
and under free offerings it Immediately began
downward movement, with few pauses,
until S57Sc was reached. Then there was a
little withdrawal OF pressure. A large pro-
portion of the stuff sold came from houses
loaded up little on the strong spots yeSter-
day. The receipts were about 100 cars more
than was expected. June wheat was offered
in settlement at 92l2c. The impression is
growing that June is getting pretty nearly
clique are likely at any moment to allow
June to take care of itself. During the first
hour July was quiet in the vicinity of S6ss@
S6lac, and June steady at 93c AS the
lifeless and brokers left the pit al
most deserted. Wheat continues to pour
in faster than place can be found to put it.
A good many of the shorts who intended
shipping out corn to make room for wheat
find their plan interfercd with by scarcity
of vessel room. Cars laden with wheat and
corn are accommodating on the side tracks,
and there seems to be no adequate means of
relief at hand, and the blockade is hourly
becoming more menacing. 1t is estimated by
presumably competent authority that there
are 1880 or 5000 cars of grain on side
tracks waiting to be emptied. June wheat
closed at 927Sc, July at S6SSc, and August at
S3lac. Corn was entirely featureless to-day,
fluctuations in prices during the regular
session being extremely narrow, and specu-
lative trading light. Opening figures were
1s@l4c under yesterdays closing, and a fair
trade was reported early at around 39l2c for
July. Later there was positively dizziness on
July being at 39I4c. Oats were fiat and
scarcely enough was done in the futures to
establish prices. There was less desire to sell
provisions, especially short ribs, which are
pounds going out the the past two days.
July ribs opened at $7.42l2. The demand to
cover sales made yesterday became quite
brisk toward the close and prices advanced
15c above yesterdays last sales, but later re-
acted slightly, closing at S7.52I2. Lard was
easier early, July opening at S6.65; later it
advanced to S6.67l2, but closed at the open
ing figure.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. June. 93c, closing at 927sc;
closing at S3c. Corn-No. June, 3Sc,
closing at 3Sc; July, 39Ac, closing at 39l4c;
August, 401Ac, closing at 40Ac; September
25$sc, closing at 25l9c; July, 25ssc, closing
at 26l2c; August 26c, closing at 26c;
September, 26c. closing at &c. Mess Pork
Per Dbl, June, 500, closing at $40. Lard
Per lbs, June, S6.57l2, closing at $500;
July, S6.65, closing at S6.65; August
500, closing at 1913; Septem-
Der, 6.S2I2, closing at S6S5. Short Ribs
Per 100 lbs. June, 81. 42la, closing at S7.52la;
July, S7.4212, closing at S7.52l2;
August, $50, closing at S7.60; Sep
TENDER, $3.50, closing at $40;
Cash quotations were as follows: Flour
was i'll fair demand: prices continue firm at
92&c; No. spring wheat, 7sc; No. 2 red,
92I2c. Corn-No. 2, 3Ss5c. Oats-No. 2,
25l2c. Rye-No. 2, 54c. Barley-No. 9, SOC.
Flax seed-No. 1, S1.15s4 Prime timothy
seed, S1.90. Mess pork, per Dbl, S20@22
Lard, per 100 lbs, S660@6. 6212. Short ribs
sides, loose S7.35; dry sailed shoulders
boxed, S5.60@5.70; short clear sides,
boxed, S7.SO@7. SIS. Whisky-Distillers
finished goods, per gallon, S1.10. Receipts
Flour, $4,000 bbls; wheat 511 900 bu;
corn, 100000 bu; oats, 307 600 bu; rye,
1000 blu; barley, 5000 blu. Shipments
Flour, $4,000 bbls; wheat 165, 200 bu;
corn, 127, 900 bu: oats, 302, 600 bu; rye,
$4,000 bu; barley, 1000 blu. On the pro
duce exchange to-day the butter market was
steady and firm; creamery, 13I2017c; dairy,
12@l5c. Eggs were steady and firm at 13
@I4c.
r. M, NEWPORT g. SON.